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The Second World War, Inequality and the Social Contract in England
Heldring, Leander; Robinson, James A.; Whitfill, Parker J. - National Bureau of Economic Research - 2022
What is the impact of warfare on inequality and the social contract? Using local data on bombing, the evolution of wealth inequality and vote shares for the Labour Party in England around World War II we establish two results. First, on average, we find no impact of bombing on inequality....
Persistent link: https://www.econbiz.de/10012814452
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Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union
Kane, Edward J. - 2006
Considered as a social contract, a financial safety net imposes duties and confers rights on different sectors of the economy. Within a nation, elements of incompleteness inherent in this contract generate principal-agent conflicts that are mitigated by formal agreements, norms, laws, and the...
Persistent link: https://www.econbiz.de/10012466499
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Inequality, Technology, and the Social Contract
Benabou, Roland - 2004
The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...
Persistent link: https://www.econbiz.de/10012468322
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Changing Social Contracts : Beliefs and Dissipative Inclusion in Brazil
Alston, Lee J. - 2012
Social contracts about inequality and redistribution are country-specific. We rely on a model of inequality and redistribution where multiple steady states can emerge in given country. We link the model to the recent literature on beliefs and argue that beliefs are a major determinant of which...
Persistent link: https://www.econbiz.de/10012460073
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Tax Aversion and the Social Contract in Africa
Robinson, James A. - National Bureau of Economic Research - 2022
Despite the low levels of taxation and public good provision in Africa, I provide evidence that a large proportion of Africans prefer lower taxation and fewer public goods. This cannot be explained by standard arguments about problems of accountability, governance or state capacity. Instead I...
Persistent link: https://www.econbiz.de/10013191019
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Bank CEO Incentives and the Credit Crisis
Fahlenbrach, Rüdiger - 2009
We investigate whether bank performance during the credit crisis of 2008 is related to CEO incentives and share ownership before the crisis and whether CEOs reduced their equity stakes in their banks in anticipation of the crisis. There is no evidence that banks with CEOs whose incentives were...
Persistent link: https://www.econbiz.de/10012463437
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Firms' Stakeholders and the Costs of Transparency
Almazan, Andres - 2007
stakeholders. Because there are spillover benefits associated with being associated with a "winner," the perceptions of … stakeholders and potential stakeholders can affect firm value. Our analysis indicates that while transparency (i.e., generating … information regarding the extent to which stakeholders benefit from having a relationship with a high quality firm. These costs …
Persistent link: https://www.econbiz.de/10012464992
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Stakeholder, Transparency and Capital Structure
Almazan, Andres - 2003
firms and stakeholders to undertake relationship specific investments. The negative effects of transparency can lead firms …
Persistent link: https://www.econbiz.de/10012468593
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Governance and Stakeholders
Mehrotra, Vikas - 2017
stakeholders - entrepreneurial founders or CEOs, employees, employees, customers, suppliers, communities or governments, having …
Persistent link: https://www.econbiz.de/10012455221
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The Tenuous Tradeoff Between Risk and Incentives
Prendergast, Canice - 2000
Empirical work testing for a negative tradeoff between risk and incentives, a cornerstone of agency theory, has not had much success. Indeed, the data seem to suggest a positive relationship between measures of uncertainty and incentives, rather than the posited negative tradeoff. I argue that...
Persistent link: https://www.econbiz.de/10012470935